Renew Holdings confident in year-end order book

30th Jan 2024 12:28

(Sharecast News) - Infrastructure engineering service provider Renew Holdings said in an update on Tuesday that in the first quarter of its new financial year, it maintained the positive trading momentum seen in 2023, aligning with the board's expectations.

The AIM-traded company, which was holding its annual general meeting said its order book as of 31 December stood at £874m, showing a notable increase from the prior year's figure of £861m.

It said its engineering services order book specifically amounted to £795m, compared to £758m at the same point in 2022.

"The long-term structural growth drivers in the UK's regulated infrastructure markets, combined with the expertise across our businesses provides significant opportunities across the group and the board looks to the future with confidence," chairman David Brown said.

At 1209 GMT, shares in Renew Holdings were up 0.91% at 857.7p.

Reporting by Josh White for Sharecast.com.